Quick Updates etc Comment and win SPS

This post is not financial advice.

Some quick updates. More observations as not much to update at the moment.

This account has been playing market maker(keeping the price within 10% of 1 swap.hive) for UNICOIN buying up tokens less than 1 swap.hive . As well as selling them back during UNICOIN buybacks. This is allowing for some arbitrage profits.

Something I have observed since UNICOIN was added as a reward to the swap.hive/trade pool is many folks want to quick sell. I anticipated this , which is why I set up this account to do these buys for both UNICOIN and GLITTER once it launches.

These quick sells increase the profits through arbitrage as well as spending less to buyback the tokens. Since both UNICION and GLITTER are backed by Hive/Hive -engine assets the price really doesn't matter much. Buy hey if people want to sell their tokens undervalued for convenience, allow me to provide that convenience.

GLITTER will have more aggressive burn schedules than UNICOIN so any tokens that can be bought back for less than their value will essentially be burned. New tokens are only minted once backed and needed. GLITTER will also have more aggressive buybacks including the scheduled buybacks at a profit to the seller.

It's all designed this way.

I am slowly building assets on this account through curation, other funding sources, liquidity pools and earning a small amount from posts. Everything is looking good. UNICOIN is backed more by Hive Power. GLITTER is backed more by layer 2 Hive-engine tokens. Though both accounts hold all types of these assets. To keep things simply I mainly go by HP and swap.hive holdings either liquid or in pools to determine when to mint GLITTER but I also may on occasionally calculate other tokens in that mix. Since it's HIVE pegged (fractionally) it makes sense to base a majority of the assets backing the token to be based on HP/swap.hive.

There will not be a pre sale for GLITTER but if you put in a buy order for 0.01 I will likely fill it before the launch of the UNICOIN liquidity pool. If you do put in a buy order, be sure to nudge me via comment or something and I will do my best to fill it. Buybacks will begin in November and will start at 1% over .01 . In January buybacks will be done quarterly much like UNICOIN is transitioning to.

The buyback profit percentage will slowly grow over time until it stabilizes. The target is to buyback tokens at a 5-10% profit to the seller. I have no ETA on that as it depends on earnings and account balances (obviously)

Comment and win:
The first 5 people who post a thoughtful comment or question will win one SPS. Deadline to receive the prize is 7 days after this post goes live at payout. One comment per account will count toward the prize.